Insider Selling: Formula One Group (NASDAQ:FWONA) CEO Sells 35,463 Shares of Stock

Posted by James Nelson on Dec 20th, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) CEO Gregory B. Maffei sold 35,463 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following the transaction, the chief executive officer now directly owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Formula One Group Stock Performance

Shares of NASDAQ FWONA opened at $85.17 on Friday. The stock’s 50-day simple moving average is $77.98 and its 200-day simple moving average is $72.25. The firm has a market capitalization of $20.02 billion, a PE ratio of 74.06 and a beta of 0.18. Formula One Group has a fifty-two week low of $55.86 and a fifty-two week high of $87.42.

Institutional Trading of Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC bought a new position in shares of Formula One Group (NASDAQ:FWONA – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,079 shares of the company’s stock, valued at approximately $220,000. 8.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FWONA has been the subject of several analyst reports. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of Formula One Group in a research note on Thursday, November 14th.

View Our Latest Research Report on FWONA

About Formula One Group

(Get Free Report)

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.